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COMPANY NEWS; Connaught's Stock

Connaught Biosciences Inc. rose again today on continued speculation that Institut Merieux S.A. of France would try to top a bid of $764 million (Canadian), or about $644 million (United States), from Ciba-Geigy Ltd. and the Chiron Corporation. Connaught shares rose 62.5 Canadian cents, to $32.375, on the Toronto Stock Exchange - $2.375 higher than the offer from Ciba and Chiron. Before the offer, Connaught had planned a stock swap with Merieux to create a new company that would be 51.4 percent owned by Merieux.

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A version of this article appears in print on September 20, 1989, on Page D00004 of the National edition with the headline: COMPANY NEWS; Connaught's Stock. Order Reprints|Today's Paper|Subscribe